Ilmarinen Mutual Pension Insurance Co Takes $4.16 Million Position in Exact Sciences Co. (NASDAQ:EXAS)

Ilmarinen Mutual Pension Insurance Co purchased a new position in shares of Exact Sciences Co. (NASDAQ:EXAS) during the fourth quarter, HoldingsChannel reports. The fund purchased 74,000 shares of the medical research company’s stock, valued at approximately $4,158,000.

A number of other hedge funds have also bought and sold shares of the business. Asset Planning Inc acquired a new position in shares of Exact Sciences during the 4th quarter worth approximately $40,000. Modus Advisors LLC bought a new stake in shares of Exact Sciences in the fourth quarter valued at approximately $43,000. AlphaQuest LLC grew its position in Exact Sciences by 22,825.0% during the fourth quarter. AlphaQuest LLC now owns 917 shares of the medical research company’s stock worth $52,000 after buying an additional 913 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Exact Sciences during the 4th quarter worth $66,000. Finally, Kieckhefer Group LLC acquired a new position in Exact Sciences in the 4th quarter valued at $188,000. 88.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on EXAS shares. Guggenheim set a $60.00 target price on Exact Sciences and gave the stock a “buy” rating in a report on Friday, March 28th. William Blair reiterated an “outperform” rating on shares of Exact Sciences in a research note on Thursday, February 20th. Bank of America dropped their target price on shares of Exact Sciences from $72.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Benchmark reiterated a “buy” rating and set a $65.00 price target on shares of Exact Sciences in a research report on Monday, January 13th. Finally, Scotiabank boosted their price objective on shares of Exact Sciences from $70.00 to $73.00 and gave the company a “sector outperform” rating in a research report on Monday, February 24th. Two research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.26.

Exact Sciences Stock Down 3.9 %

Shares of NASDAQ EXAS opened at $42.55 on Friday. The company has a 50 day simple moving average of $48.64 and a 200 day simple moving average of $56.98. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.15 and a quick ratio of 1.93. Exact Sciences Co. has a 1 year low of $40.62 and a 1 year high of $74.44. The firm has a market cap of $7.90 billion, a PE ratio of -7.64 and a beta of 1.14.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.23. The company had revenue of $713.42 million for the quarter, compared to analyst estimates of $701.45 million. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. On average, research analysts forecast that Exact Sciences Co. will post -0.58 EPS for the current year.

About Exact Sciences

Exact Sciences Corporation provides cancer screening and diagnostic test products in the United States and internationally. The company offers Cologuard, a non-invasive stool-based DNA screening test to detect DNA and hemoglobin biomarkers associated with colorectal cancer and pre-cancer. It also provides Oncotype DX Breast Recurrence Score Test; Oncotype DX Breast DCIS Score Test; Oncotype DX Colon Recurrence Score Test; OncoExTra Test for tumor profiling for patients with advanced, metastatic, refractory, relapsed, or recurrent cancer; and Covid-19 testing services.